Bend Luxury Homes are Selling!

Ever since coming out from the housing recession, the value of Bend single family homes on less than an acre has increased. From an average sales price of $230,000 in spring of 2011, Bend home values have gone up to exceed $547,000 June 2020.  During the same time, the months of inventory have dropped from 13.3 months to less than 2 and the price per square foot has risen from $113 to $268. From a low of two $1,000,000 plus Bend homes on less than an acre selling in all of 2010, June 2020 alone saw 23 sold.*

Bend Premier Real Estate brokers are currently working with many million dollar buyers, and people calling the office or registering on the company website are frequently searching for high end listings. Despite the Covid-19 pandemic (or perhaps because of it), the demand for Bend real estate with a home office, a backyard or some acreage, and some space in the home has increased. We are seeing multi-million dollar homes selling quickly, some with multiple offers.

Will Luxury Home Sales in Bend Continue?

Whether or not this demand for Bend's higher end real estate will continue remains to be seen. However, the trend is moving upward with sales in excess of $2,000,000 growing as well as those between $1,000,000 and $2,000,000. The chart below shows the last 3 years of high end sales for Bend luxury listings with each bar representing 12 months of data. Clearly, the demand is there and as long as interest rates remain low, we do not anticipate it changing in the near future.